In the absence of any major market moving economic reports, mortgage rates were unchanged with conforming no point 30 year fixed rates averaging 4 1/4 percent and 15 year rates closer to 3 1/4. According to Realty Trac during the first quarter of 2014, roughly 43 percent of all residential property sales were all cash purchases. The top 5 markets for cash sales were in Florida. Meanwhile in San Diego detached single family home sales rose by 12 percent in April.
And now for something, completely different: Did you know that during a typical Major League Baseball season, approximately 160,000 baseballs are used? Great news for baseball manufacturers.
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942.
This is Mehran Aram with today's ARAMCO Report.